British luxury handbag maker Mulberry on Thursday announced the departure of its chief executive, Frenchman Bruno Guillon, with immediate effect after two years at the helm. The company did not give a reason for the departure but it follows a profit warning from Mulberry in January following slowing sales in Britain and key market South Korea, sparking a collapse of its share price. Mulberry said that Godfrey Davis, non-executive chairman and previously chief executive of the company, will become executive chairman until a successor is found. "I, along with the board, would like to thank Bruno for his hard work over the past two years," Davis said in a short statement. "He has helped improve the quality of the Mulberry offering and enabled the company to increase its international appeal and grown international retail sales. I am confident that Mulberry has the heritage, brand appeal and products to build on what has been achieved," he added.